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Blog Drastically Different Recently it seems there are many attempted comparisons being made between today’s real estate market and the 2006-2007 market. It seems that people fear a repeat of what happened to the market in 2008 and 2009. Buyers, understandably, want to make smart decisions and don’t want to buy in advance of any downturn. The reality is […]
Blog Colorado Bound The 2020 Census confirms what we already know – Colorado is popular! It turns out that many people have been Colorado-bound over the last 10 years. Our state has grown by the equivalent of one Mile High Stadium’s-worth of people each year over the last 10 years. Here are the numbers: 2020 population is 5.77 […]
Blog Future of Work This week we had the opportunity to hear a presentation by Ed McMahon who is the Senior Fellow for Sustainable Development at the Urban Land Institute.   He is a leading expert on the future of housing and development in the United States.   He sees that Colorado is positioned to massively benefit from the […]
Fun Facts Record Highs While our temperatures felt like record lows this week, real estate prices have been hitting record highs along the Front Range. Here is the average price for residential sales so far this year in each of our Front Range markets (includes both single-family and multi-family): Fort Collins = $567,000 Loveland = $449,000 Windsor = $537,000 […]
Blog New Rate Prediction Windermere’s Chief Economist, Matthew Gardner has made his new mortgage interest rate prediction for 2021.   You can see his breakdown of interest rates and other economic factors by clicking on the image below and watching his newest video.   By the end of the year he predicts rates will rise to 3.63%.  By the […]
Blog 96 Weeks Mortgage rates have been below 4% for 96 weeks in a row.   Today, the average 30-year fixed mortgage rate sits at 3.17%.   This is 0.5% lower than January and exactly 1.0% lower than March 2020.   Rates recently ended a 31-week streak of being under 3%.   Over the last 5 years, rates […]
Appreciation Rate 107 Straight According to research from the National Association of Realtors, home prices have appreciated for 107 straight months.   The median price in the U.S. is now $309,000.   The U.S. region with the highest median price is the West at $461,800. The lowest is in the South at $263,300.   All regions showed double-digit price […]
Blog Enormous Equity Hot off the press is the Core Logic Homeowner Equity Report.  This is their quarterly look at what is happening with homeowners’ equity across the country. Here are the staggering numbers coming out of their research: Collectively, U.S. homeowners with mortgages have realized a $1.5 Trillion gain in equity over the last 12 months. Only […]
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Blog Homebuilder Headaches The National Association of Home Builders recently surveyed their members to ask them about the challenges they currently face and the challenges they expect to face.   Far and away, the biggest headache for homebuilders right now is the rising cost of building materials.   96% of the survey respondents cited this as a significant […]
Blog Days of Inventory In the residential real estate industry, inventory is typically measured in months.   For example, the definition of a “sellers’ market” is when there is less than 4 months of inventory on the market.  Meaning, at the current pace of sales, it would take less than four months to sell all the homes currently for […]
Blog Double Lumber The price of lumber has doubled in three months.   Lumber is just one of several examples of skyrocketing materials costs which are impacting both home builders and home buyers.   The cost of lumber is now at a record-level $1000 per 1000 board feet.   These rising costs not only add to the sales […]
Blog Yes is the Answer It turns out that ‘yes’ is the answer to the most common questions we hear right now about the market… Do you think more properties will come on the market this Spring?  Yes, the normal pattern in our market is for new listings to be 40% to 70% higher in April versus January.  The peak month […]
Blog Latest Ranking CoreLogic produces one of the most respected and widely-used home price index reports in the United States. They track home price appreciation in the largest markets across the Country. Here are the highlights from their most recent report: Home prices are up 9.2% Nationally This is the highest increase since February, 2014 Denver ranks fourth […]
Blog Job Bounce “How could the real estate market be so strong in the middle of a pandemic?” That is a fair question and one we hear frequently from our clients. There are several reasons for this but two stand out. Interest rates Jobs Employment has bounced back much quicker than most people expected.  When COVID first showed […]
Blog Bubble Talk A hot topic of conversation these days is the prospect of another real estate bubble.  People wonder if prices can continue at their current pace and some fear a repeat of 2008.   Because we get asked about this topic so often from our clients, we thought it would make sense to ask our in-house […]
Blog Rate Heading Rate Heading Where are interest rates headed? This question was one of many which were addressed during our annual Market Forecast yesterday. Our Chief Economist, Matthew Gardner, provided insight on rates, prices, inventory and many other fascinating topics. Matthew’s prediction is for rates to creep up to 3.07% by the end of 2021.  They are […]
Blog Inverted Typically, in the Front Range Market, the number of new listings will exceed the number of closings on a monthly basis. Meaning, the amount of properties that hit the market in a given month will be higher than the amount of properties that sell in that month. It is normal to have the ‘inflow’ exceed the […]
Blog 14 Times For the 14th time this year, 30-year mortgage rates set a record and hit an all-time low. Based on data just released by Freddie Mac, rates are now at 2.71%.  Their weekly survey of the 30-year mortgage rate dates back to 1971. Just one year ago rates were at 3.68%. So, what does this mean […]
Blog Remodeling Impact Americans spend $400 billion per year remodeling their homes. So, which remodeling investment gives the best return when it comes to resale value? It should come as no surprise, especially leading up to Thanksgiving, that the best money to spend upgrading your home is in the kitchen. It’s the place where most homeowners spend most of their waking […]
Blog A Little Perspective Here’s a little perspective on the inventory of homes for sale in today’s market… First we’ll look at Metro Denver: The average number of residential listings for sale at this time of year is 15,577 The highest-ever for this time of year is 29,722 which occurred in 2006 The number of listings right now is […]
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